Web3 Gaming Sector Faces Major Downturn
- Investment Returns Dismal: Despite over $15 billion invested in the Web3 gaming sector, data from Caladan reveals that over 90% of GameFi projects have failed, leading to a significant erosion of investor confidence and a marked decrease in capital flows to new projects.
- Token Values Plummet: The report indicates that token prices of Web3 gaming projects have lost an average of 95% from their peak levels, which not only affects existing investors' returns but also significantly diminishes new investors' interest, exacerbating the market downturn.
- Stagnant User Growth: The sustainability of the “play-to-earn” model is in jeopardy, particularly as flagship projects like Axie Infinity have seen sharp declines in user numbers, resulting in over 300 blockchain-based games ceasing operations, reflecting a lack of confidence in this model.
- Shift in Investment Focus: Experts note that investor interest is now shifting towards emerging areas such as artificial intelligence, real-world asset tokenization, and Layer 2 solutions, indicating that while the Web3 gaming sector hasn't completely vanished, it is undergoing significant restructuring, with future projects likely to feature more sustainable economic models.
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Technical Analysis for BASED
Technical Sentiment Analysis for Based (BASED). As of , Based (BASED) is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BASED stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.
Support, Resistance & Moving Averages. From a structural perspective, BASED is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Based (BASED) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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